January 28, 2013

Form 8863 Held - Update

On Sunday, the IRS added Form 8863, Education Credits, to its list of late season holds. This is a major form and will effect a lot of clients. If the return has been filed, the IRS will hold it and begin processing when they release the form. If it's filed now, it will be rejected until it's released or held if mailed in.

Complaints? Talk to Congress.

IRS has announced (IR-2013-10) that the 8863 will be accepted by the middle of Febuary.

Disclaimer

Disclaimer

A reader should seek advice from an independent tax adviser with respect to the information on this blog based on the reader’s particular circumstances. This advice is intended to be general information and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS regarding the transaction or matters discussed here.